Aurizon has lifted the lid on the proposed sale of coal haulage business, East Coast Rail, in a bid to prove the doubters wrong.
Aurizon has lifted the lid on early buyer interest in its coal haulage business East Coast Rail, ahead of indicative bids which are due next month.
“If you go back 10 months ago when we made the decision to take on the task of divesting East Coast Rail, the fundamentals of the business haven’t changed in that 10 months,” Aurizon CFO and strategy boss George Lippiatt told analysts. “People are having a reminder of the essential role that thermal coal plays in Asian markets, but people are also putting more of a premium on businesses, which are generating real earnings and have CPI protections in their revenue contracts, and East Coast Rail fits that mould.